Parallel economies, and the moral superiority of Marxism?

posted by Rock | 20pt
February 10, 2017

Greetings Proff Wolff and fellow Wolffians. In the search of peace, and with no small amount of introspection, I have come to wonder if it is wise or even morally sound to try and abolish capitalism, and expect others to be up to the moral task of a Marxist economy. Capitalism, like alcohol, is very bad for the individual and society alike. Drunk drivers kill a lot of people as we all know, and capitalism does the same in all the ways you frequently point out. So, there are some who want to drink regardless, same as there are some who want to make a profit regardless. It's a harsh reality for a lot of us, but who are we tell others not to drink? Addiction is very difficult to deal with, and it never bodes well when you take the moral high ground with an addict.
And now my question, and thank you greatly for all you do. I cannot overstate my gratitude for your efforts in educating people.
Could we have a socialist economy complete with it's own currency on the one hand that guards the society from the profit motive, i.e. transportation, healthcare, education, etc., while there be a capitalist economy for those who love profit simultaneously? Like, you can spend a dollar if you want a Lamborghini, but if you just want a few scripts and a loaf of bread you can spend a social credit or something? I feel like on the moral grounds, people need to be allowed access to their capitalist fix, no?

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The ‘sin’ of materialism is a cultural value. There is nothing wrong with appreciating a Saville Row suit over plastic, sweatshop costumes. My issue with capitalism is the cancer cell mentallity of 100 percent consumption in one form or another as ‘winning.’ Other cultures have done the reverse: The famous northwest coast ritual of the potlatch where a clan would gift everything to the point of extreme povery but immense social status. We aren’t talking regifted Christmas sweaters or Lutheran casseroles but their equal of a Saville Row suit or Lamborgini ( I prefer the Orient Express.)

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Richard D. Wolff is Professor of Economics Emeritus at UMass Amherst and a visiting Professor in the Graduate Program in International Affairs of the New School University in New York. Richard Wolff is also a co-founder and active contributor of his non-profit: Democracy at Work